Breaking down the PQ's budget

How will the new budget affect you?

Hydro

Unfreeze Hydro pool rates but cancel the $0.01 per kilowatt hour increase on that over five years, previously announced by the Liberals. Instead, price on heritage pool electricity will be tied to inflation.

IMPACT: After five years of indexing, the average monthly impact on residential rates will be $2 for an apartment, $7 for a small house, $10 for an average house, $13 for a large house.

Child Development

Introduction of a refundable tax credit for children five to 16 years for physical, artistic or cultural activities.

IMPACT: Gradual reimbursement of up to 20 per cent of cost for sports and cultural activities. Will be phased in over five years with the maximum credit eventually reaching $100 per child.

Child care

Add 15,000 new $7-a-day daycare spaces to the 13,000 already planned.

IMPACT: The spaces will be phased in over three years starting in 2014. Of the 15,000 new spaces, 12,750 will be in CPE child care centres and the rest will be in subsidized daycare centres.

Alcohol and tobacco tax increases

Increase provincial tax on cigarettes, beer, wine and spirits

IMPACT: An increase of $0.02 a cigarette, $0.03 per beer, $0.17 per bottle of wine and $0.26 per bottle of spirits will generate $230 million in government revenue.

Tuition Fees

Cancel the Liberal’s tuition hike and propose the indexing of tuition fees at the higher education summit scheduled for February 2013.

IMPACT: Removing the $254 a year increase resulted in a loss of $24 million in revenue 2012-2013 and $51 million in 2013-2015.

Adjustments to the health tax

Reduce cost for lower income Quebecers and increase contributions from wealthier residents

IMPACT: People making less than $18,000 a year will now be exempt from the health tax. Those making between $18,000 and $40,000 will have to contribute $100 and anything over but less than $42,000 will see a gradual rise to $200. Taxpayers who earn between $42,000 and $130,000 will contribute $200 a year and the number will gradually rise to $1,000 for anyone making more than $130,000.

New income tax bracket

Applies to any resident who earns more than $100,000 a year

IMPACT: Affected taxpayers will now pay 1.75 per cent more on all income over $100,000. Revenue generated will be deposited in the fund to finance health and social services institutions.